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Creating image of biotech company

This is a discussion on Creating image of biotech company within the Biotechnology Engineering forums, part of the ENGINEERING WORLD category; Corporations, regardless of how big or small, always need to establish a unique image for their products. Your business’ corporate ...


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Old 09-06-2008, 06:31 PM
aayush_005's Avatar
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Default Creating image of biotech company

Corporations, regardless of how big or small, always need to establish a unique image for their products. Your business’ corporate image is what sets it apart from your competitors, and provides a very good idea of what your company can provide for all your customers.
Corporate images should reflect the principles, services, beliefs and achievements of its company. This image is very crucial for increasing the sales of your product and in achieving brand equity for your company.
Creating a corporate image is a difficult and time consuming process, and it is carried out by people who are experts in the fields of marketing psychology and perception management. These marketing experts use different promotion methods and public relations techniques in creating their business’ corporate image.
Because of its importance to marketing strategies, a company’s corporate image needs to be visually stimulating to its audience. An ideal corporate image should contain its company’s motto, and also reflect its beliefs and services. Logos should be created in such a way that it is aesthetically pleasing, but at the same, timelessly memorable.
Once the image is finished, the next phase should be advertising and product distribution in your niche market. Your product needs to be targeted towards specific markets, in order to better focus its effectiveness with your clients. So, it is only rational that your company’s image follow suit, and be targeted in exactly the same way.
Whenever it becomes necessary, don’t be afraid to review and adjust your marketing budget to match your company’s needs. This is very helpful in improving your corporate image to suit the ever-changing needs of your market.
Your corporate logo may bring you many advantages, but you should know that it can also bring a lot of harm to your company. Negative reviews from news papers, magazine and labour unions can be detrimental to your corporate image. Even the simplest of controversies can be harmful to your company if it is organized enough to hurt you. Most of these controversies are born from bad publicities, lawsuits, religion, politics, etc…, and they can be very damaging if not checked.
Your corporate image should be treated as a long term investment. It must to be designed to stand the tests of time, because changing it can be very harmful to your marketing efforts. Your corporate image needs to be integrated into every aspect of your business. This includes all your products, your services, your materials, business cards, website, etc… Applying different images for different products, can cause confusion among your customers, and may severely damage your marketing gains. Numerous companies have already suffered from the misuse of corporate images, and their products and revenue have been compromised, as a result.
This is one of the biggest reasons why each individual product of a company needs to have the complete and consistent image of their corporation. It must be realistic, and needs to present your company’s values to your customers in a personal and positive manner.
That is the real value of a corporate logo.

Marketing
Marketing consists of all activities designed to generate and facilitate any exchange intended to satisfy human needs or wants. More simply put in business terms, activities designed to plan, price, promote and distribute products or services to target markets. Marketing is a fact of life. There are so many businesses in so many categories, how will you persuade potential customers to come to you?
4 P's of Marketing
Product - the products or services you offer and are they unique, superior, easier to use.
Price - how much to sell your products for, based on your cost and value to potential customers.
Promotion - communicating to potential customers to create an awareness of your business.
Place - your business location and methods of distributing your products.
Why You Need To Market
Marketing is your method of communicating to people that your company, product or service exists. It' no use having the best product in the world if nobody knows about it or about you.
Typical Arguments For Not Marketing
• I'll alert my competitors to what I'm doing.
• I don't want to grow too fast.
• I might look to successful.
• I don't want to get more business than I can handle.
Nice Problems To Have
• If your competitors are doing their homework, they already know what you're doing.
• Your business won't grow at all if you don't market it in some form.
• Would you rather look unsuccessful?
• An abundance of customers is usually better than no customers
10 Common Marketing Methods
There are many methods of marketing, from simple to elaborate and from inexpensive to extremely costly. All or only some of these may be applicable to your business, but you can choose the ones that are and create a powerful marketing strategy. The following list outlines some common marketing and communication methods used by millions of businesses to reach their potential customers:
• Print advertising in newspapers, magazines, business journals, community newsletters, etc.
• Developing sales flyers, brochures or newsletters for distribution to potential customers.
• Attend trade shows or exhibitions related to your industry, product or business.
• Press releases and public service announcements in newspapers. Usually free and good exposure.
• Cooperative marketing efforts (in advertising, etc) with a business that compliments yours.
• Join community networking groups like your local chamber of commerce or business committee.
• Join professional associations through your industry, business or personal credentials.
• Internet marketing is an exciting and inexpensive method of regional, national or global marketing.
• Telemarketing to potential customers off a list or out of the telephone book.
• Direct marketing with written correspondence using a list to mail or fax marketing literature
Making an Effective Marketing Plan
How well your advertisements and promotions draw customers will ultimately determine how effective your marketing strategy is. It becomes your responsibility to cultivate your designated market, if you decide to market your invention yourself. One of the ways to do this is through advertising and promotions. Remember the aim of the advertising and promotional strategy is to create awareness of your product, to arouse customers' needs and expectations to the point of consumption and to create a loyal stream of satisfied customers who continue to patronize your business.

Effective Advertising and Promotions Techniques
Perhaps, the first step in developing an effective advertising and promotional strategy is to understand the difference between the two concepts. Most people think that advertising and promotions are one in the same; there is, however, a distinction between the two. While both advertising and promotions use the different media formats - print, radio, and television - as a way of conveying a message, promotion encompasses much more. It is the method of advertising and can entail community involvement. For example, this could mean sponsoring a Youth Organization, allowing non-profit organizations to use your facility, such as, letting the high school drama club use your parking lot for a car wash fund raiser, sending an underprivileged child to day camp or involvement in any type of positive community activity that will bring attention to your business.
While advertising is a way of keeping your business is the public's eye, promotions are a way of signaling that you are concerned and committed to the welfare of the community and its residents. This commitment may be one of the most effective techniques for building customer loyalty. People tend to be more supportive of businesses and organizations that give something to the community rather than those that just take from the community, never giving anything in return.
Advertising
Advertising plays an important role in successful business ventures. It entails identifying and selecting the media that provide the greatest amount of exposure for your business and developing effective, yet appropriate materials for each medium. It is more than running an ad in a local newspaper, on a radio or television station or just simply hanging a sign outside your business and waiting for the customers to purchase your product. It requires that you know your product - that is, the selling points - and that you develop literature that can arouse the customers' consciousness levels to the point that they are curious enough to investigate it, and then raises their need or desire levels to the point that they are willing to purchase it.
Advertising keeps your product or service in the public's eye by creating a sense of awareness. Yet this awareness alone will not ensure the success of your business. Thus, advertising not only has to be effective, it also has to be a continuous process.
It may be a good idea to mix the different media formats that you use. For example, design a brochure that describes your product, emphasizing its selling points (special features). Place copies of the brochure in strategic locations of your business to use as customer handouts. Or, devise a customer survey. The survey should focus on whether customers like the product, the quality of the product, ways to improve it, the quality of service provided by staff - their friendliness and courtesy. Place the survey with a self-addressed, stamped envelope near the check-out counter and ask customers to mail in or return the survey when they come back. Review their comments with staff and implement those suggestions that are practical, cost efficient and can improve the overall quality of service your business provides
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